Investing within your superannuation fund is an extremely tax effective way to build wealth, however, the assets held in superannuation can only be accessed later in life.
Investing in assets outside of the superannuation environment is a great way to accumulate wealth without restricting access to your assets.
When talking about investing, most Australian’s don’t consider their family home in this sense. The reality is though, that borrowing to purchase your primary residence is an investment decision – and a large one at that! While it makes sense to reduce the debt associated with this asset, building wealth in other areas is a great strategy to diversify your overall investments and ensure you have your eggs in more than one basket.
A common misconception about investing is that you need to start with a large sum of money, but this simply isn’t the case. Just as you might make monthly transfers into a savings account to reach a certain goal, you can also invest a small amount each month to build up wealth in other areas over time. Chinese philosopher Lao Tzu covers this concept best – “The journey of a thousand miles begins with one step.”
We will spend time with you to increase your knowledge of the different options available to start investing, the opportunities these options bring and the potential downsides to be wary of. We then put together tailored recommendations just for you, based on our discussions and the goals you have identified.